ZFX ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
Headquartered in London, Zeal Capital Market (ZFX for short) is an online CFD broker that provides you with a limited selection of around 120 financial instruments across asset classes including forex, commodities and indices. You can trade and invest via the user-friendly MetaTrader 4 (MT4) platforms which are available in versions for desktop, web and mobile devices. I found the broker to have competitive conditions, including decent spreads, reliable execution speeds and reasonable fees. The minimum deposit to open an account is only $50 or you can practice trading on a demo account if you want to get a feel for what the broker can offer. I think they can be worth consideration for anyone looking for simple market access to trade forex and a few other instruments. However, there are some limitations to this broker which we will cover within this review which is focused primarily on the ZFX UK entity.
Pros & Cons
- User-friendly MetaTrader 4 platform
- Institutional grade multi-asset trade execution
- Tight spreads and no commission fees
- Multiple asset classes to trade
- Economic calendar to keep up to date with the latest market news
- Minimum deposit of $50 is quite low
- Free demo trading accounts
- Multilingual customer support
- Limited range of financial instruments
- Lack of significant educational resources
- Could add some additional tools
- No MetaTrader 5 platforms
- No Islamic swap-free accounts
- Cannot accept clients from some countries
ZFX is an NDD, STP, and ECN broker that gives retail and institutional clients access to the global markets via the intuitive MetaTrader 4 platform. You can analyse financial instruments using a good range of trading tools within the platform to help you find the right trading opportunities. Some of the essential features of ZFX are ECN trading accounts, deep liquidity, low spreads, competitive commissions, and leverage of up to 1:100 for eligible clients. The broker is lacking when it comes to learning materials to help beginners get started and standalone tools. However, multilingual customer support is on hand to help as and when required.
I like how the ZFX is authorised and regulated by the top-tier regulatory authority FCA in the UK. The broker operates the No Dealing Desk (NDD) execution model, while their liquidity is sourced from a variety of large financial institutions. This means that you can get your trades executed at the best prices available from the liquidity provides with minimal slippage and no interference. I much prefer this type of broker when compared to a market maker who could in theory take the opposite side of your trade.
Sophisticated market access and advanced technology enable the broker to provide you with access to wholesale interbank prices, historically available only to large financial institutions and corporations. All tradable prices are based on systematically selecting and matching the best available bid and ask prices sourced directly from institutional liquidity providers.
I am pleased to see that ZFX is regulated by a top-tier regulator in the FCA. I would always prefer to trade with a regulated broker as they can give you certain protection should something go wrong that an unregulated brokerage firm cannot. You want to be able to trade with peace of mind and not worry about if a broker will go bust. In my experience, a tier-1 regulatory licence from FCA, segregated client’s funds and protection by the Financial Compensation Scheme (FSCS) for eligible clients can point towards a reliable trading broker. Of course, you should always do your own due diligence and seek professional advice if necessary.
- Zeal Capital Market (UK) Limited is a wholly-owned subsidiary of Zeal Holdings Limited, which is authorised and regulated by the Financial Conduct Authority (FCA)
- Zeal Capital Market (Seychelles) Limited is a wholly-owned subsidiary of Zeal Holdings Limited, regulated as a Securities Dealer by the Financial Services Authority of Seychelles (FSA)
Zeal Capital Market (UK) Limited is a wholly owned subsidiary of Zeal Holdings Limited, the holding company of Zeal group of companies (collectively Zeal Group), a business portfolio comprising regulated financial institutions and fintech companies specializing in multi-asset liquidity solutions in regulated markets backed by proprietary technology, with a presence in all major global locations.
The broker cannot accept clients from some countries due to regulations. If you find that you are from any country where the broker does not accept clients, you can use our broker comparison tool to help you find an alternative option.
ZFX allows you to trade the various available financial assets using the MetaTrader 4 trading platform, an advanced trading platform developed in 2005 by the software company, MetaQuotes. The platform is designed to suit your needs whether you are a beginner or an experienced trader. MT4 has an intuitive user interface and is packed with a range of advanced trading functionalities, such as one-click executions, stop and limit orders, technical indicators, live analytics, and support for the automation of trades using expert advisors (EAs). It has more tools than most traders will ever need. You can also develop your own tools in the MQL editor and choose from plenty of add-ons from the MQL marketplace. Whether you just want to use a basic trading strategy, or need to do complex analysis across multiple charts, MT4 has got you covered.
The MT4 platform can be downloaded as a desktop application for Windows and Mac computers, and there is a mobile trading app for Android and iOS devices. There is also the web version that can run directly on most modern web browsers, including Chrome, Safari, Firefox, and Edge. I like that the web version is always up to date but find the MT4 app perfect for trading whenever I feel like it. You can monitor the markets and manage your account from anywhere at any time. The desktop platform maintains the most functionality and you will need to use it if you are planning on running automated strategies.
- Variety of order types: instant execution, pending, limit orders, stop orders including trailing stop.
- Advanced analytical tools & indicators: help you with conducting detailed analysis to gain a valuable insight into the market.
- Scalability: further development based on API protocols can seamlessly integrate Zeal MT4 with your existing trading infrastructure.
- Automated trading: powered by Expert Advisors (EA), you can run your own automated systems or those provided by third parties
- Development: You can programme your own tools based on the MQL4 language using the built-in MQL editor
- Live news feeds: Stay informed with latest news while you trade on Zeal MT4
- Comprehensive statements & reporting: Check and review your positions all from one convenient report
MT4 should have enough tools for the majority of retail traders but there are a few trading calculators and an economic calendar on the broker’s website. I think ZFX could improve the trading tools by integrating with third-party market analysis tools such Autochartist or Trading Central which can automatically find customised trading signals. If this is something that may be of interest to you, GO Markets provide both of these free of charge to users.
The Economic Calendar is a useful trading tool that shows the schedule of market events along with their expected impacts in the financial markets. If you want to keep track of the news that can move the market, I think this is an important tool which every trader should use. I alwasy try to make see what the latest news is before making any trade decision. Markets can be even more volatile than usual around news releases so it is important to be aware of upcoming news.
I was disappointed to find a lack of educational and research resources on the brokers website. I think they could improve by adding some tutorial videos and trading guides to help educate new traders and encourage informed decision making. If you are a beginner, then Admirals provide a ton of educational tools to assist you in your trading journey.
ZFX offers around 120 trading instruments covering a few asset classes in forex, commodities and indices. I noticed that the product portfolio is very limited for professionals as there are only indices, commodities and forex pairs. On top of that, other popular asset classes such as options, bonds, and cryptocurrencies aren’t available. If you are looking to build a more diverse portfolio and want a larger selection to choose from, IG is a leading broker that offers an impressive 17,000+ trading instruments in comparison.
The broker provides you with three trading account options, namely: Mini Account, Standard STP Account, and ECN trading account. The minimum deposit required to begin trading is $50 which is very reasonable considering many brokers have a minimum deposit into the hundreds. I like that there is no commission charged on trades and spreads are acceptable. The ECN Trading Account offers optimized pricing and execution, and is more suited for clients who are looking to access deeper pool of liquidity with tighter spreads.
Zeal Capital Market give you with access to a multilingual customer support team who are available 24/5 and can be reached via telephone, email, social media, online support form, or by visiting their physical offices. I think 24/5 customer support by ZFX makes sense, as crypto trading is not currently offered. The majority of market offerings are traded only on weekdays.
Account deposit and withdrawal requests are processed using bank wire transfers, credit/debit cards, and online payment processors. I noticed crypto funding is not available at ZFX, which can be a disappointment for you if you use crypto funding frequently. You may want to consider AAAFx if you are looking specifically for a broker that offers crypto funding.
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Putting it all together, ZFX is an online financial services provider that allows you to buy and sell various financial assets using the MT4 trading platform. They have competitive trading conditions with a multilingual customer support team available to assist. I like that I can trade in confidence knowing that they are regulated in the UK and Seychelles respectively.
Despite the positives, there are many areas in which the broker can improve. I would like to see them add some educational content and additional trading tools. They could also incorporate some social trading signals and advanced platforms other than MT4.
That being said, I still think that ZFX could be a feasible option for those of you who want to primarily trade forex with the user-friendly MT4 platform. However, if you are completely new to trading and looking for some educational content to help guide you along the way, you might want to take a look at our best brokers for beginners instead.
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